New Jersey Real Estate Exam Practice Question
A small broker committee in the local county has set up a new marketing idea. They will give every seller the same commission rate and it will not be negotiable. This marketing plan is an example of
Correct Answer: B
Rationale: The marketing plan described exemplifies price-fixing, as it establishes a uniform commission rate for all sellers, eliminating competition and negotiation. This practice can lead to artificially inflated prices and restricts sellers' ability to make independent pricing decisions.
Option A, apostille, refers to a certification for international documents and is unrelated to commission structures. Option C, market allocation, involves dividing markets among competitors, which does not apply here since all sellers are subjected to the same commission rate. Option D, consumer protection, focuses on safeguarding buyers' interests, but does not pertain to the non-negotiable commission aspect highlighted in the scenario.
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